28 Jun '11, 6pm

Oregon's New Legislation Slashes Renewable Energy Incentive Funding

The Oregon State Senate has voted overwhelmingly to approve House Bill 3672, which contains cuts that could be devastating to large-scale renewable energy development - as well as manufacturing - in the state. The 26-1 Senate vote follows the bill's 57-2 passage by the state's House of Representatives. The legislation would eliminate the Business Energy Tax Credit (BETC) program , which provides tax credits to trade, business or rental property owners who pay taxes for a business site if they install renewable energy projects or make energy-efficiency improvements. The program also provides a 50% tax credit to eligible renewable energy manufacturing facilities. H.B.3672 replaces the BETC with new programs designed to encourage smaller, community-based solar projects, rather than utility-scale solar and wind farms. According to a report from the Associated Press, some lawma...

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